China Records 11.23 MMT Natural Gas Import in Dec 2020
According to the latest data from China General Administration of Customs (CGAC), China’s natural gas import in December 2020 jumped to 11.23 million tons, up 22.34% M-O-M and 18.25% Y-O-Y. . The annual import volume of natural gas reached 101.66 million tons, up 5.3% Y-O-Y. The annual import value of natural gas reached $33.45b, down 19.8% Y-O-Y.
In December, the winter heating season and the two record cold spells drove China’s natural gas consumption to a historical high. The LNG import was supported by the full workloads of regas and high truck loading sales and recorded an all-time-high record at 8.5 million tons. However, the PNG import was bothered by the supply shortage at CAP at around 30-40 mcm/d and the capacity release of CREP mid-section, and the import volume in November and December underperformed.
